Verisign, Inc. (NASDAQ: VRSN) posted better than expected earnings for the fourth quarter of FY 19. Verisign on a non-GAAP basis, has reported the net income of $154 million for the fourth quarter of 2019, compared to net income of $191 million for the same quarter in 2018. The non-GAAP operating margin increased to 67.9 percent for the fourth quarter of 2019 compared to 66.7 percent for the same quarter in 2018. Verisign has ended 2019 with cash, cash equivalents, and marketable securities of $1.22 billion, which reflects a fall of $52 million from year-end 2018. The company has generated the cash flow from operations of $194 million for the fourth quarter of 2019 and $754 million for the full year 2019 compared to $219 million for the same quarter in 2018 and $698 million for the full year 2018. In FY 19, the company has reported, on a non-GAAP basis, net income of $631 million, compared to net income of $620 million in 2018.
VRSN in the fourth quarter of FY 19 has reported the adjusted earnings per share of $1.31, beating the analysts’ estimates for the adjusted earnings per share of $1.33, according to figures compiled by Thomson Reuters. The company had reported the adjusted revenue growth of 1 percent to $310.5 million in the fourth quarter of FY 19.
Additionally, during the fourth quarter, the company has repurchased 1.0 million shares of its common stock for $195 million. During the full year 2019, the company has repurchased 3.9 million shares of its common stock for $738 million. Effective Feb. 6, 2020 the company has approved an additional authorization for share repurchases of about $743 million of common stock, which brings the total amount to $1 billion authorized and available under Verisign’s share repurchase program, which has no expiration.
Additionally, the company has ended the fourth quarter with 158.8 million .com and .net domain name registrations in the domain name base, which reflects a 3.9 percent rise from the end of the fourth quarter of 2018, and a net rise of 1.46 million registrations during the fourth quarter of 2019. In the fourth quarter, the company had processed 10.3 million new domain name registrations for .com and .net, as compared to 9.5 million for the corresponding quarter in 2018.